We look to Sell at 7445
Bespoke resistance is located at 7445
Positive overnight flows lead to an expectation of a firm open this morning
We have a 61.8% Fibonacci pullback level of 7432 from 7729 to 7003
Although the anticipated move lower is corrective, it does offer ample risk/reward today
Expect trading to remain mixed and volatile
Stop: 7485
Target 1:...
We look to Sell at 7380
Trading has been mixed and volatile.
The trend of lower highs is located at 7382.
Positive overnight flows lead to an expectation of a firm open this morning.
Preferred trade is to sell into rallies.
Expect trading to remain mixed and volatile.
Stop: 7415
Target 1:7275
Target 2: 7200
Technicals
Persimmon is holding at key support and showing signs of attracting value hunters. I also note the bullish divergence on the relative ratio (Persimmon share price / UKX). The price of sterling has been a drag on the shares and with GBP moving higher yesterday it could offer some relief to domestic stocks. Technically and fundamentally, Persimmon looks...
Been watching this lately as it has been appearing in my scans. The trading volume appears to have been quite consistent in recent weeks and trend of higher lows is encouraging.
The close above the 10 EMA is a cue to buy and target the resistance above.
Target: 2.55p
Stop: 1.644p
Jubilee Metals has corrected lower in recent weeks to retest the breakout level of 2.80p and slightly below this at the 61.8% Fibonacci support level. The large reversal today is an encouraging sign which the shares set to close above the 10EMA. It’s also been noted that trading volume has been consistently above 50k for the past 90 days. It looks an interesting...
Technical
Howden Joinery looks interesting on a technical basis. The shares shot higher to new highs following a bullish update to the market. We have since seen the share price unwind to some sensible levels as the overall market continues in this condolidaiton phase. The shares have reached a confluence of Fibonacci support levels, which I have highlighted on...
Technical
Ocado has had a dramatic rise in price over the past 18 months. The breakout level at 1163p has been retested and has so far been well supported. The shares have been in a consolidation phase for the past few weeks, but some signs are emerging that could put an end to the sideways price action. A move back to and above the previous highs is expected from...
The move lower got even closer to our entry point than it did yesterday (see related idea).
We may have missed the entry again. Still keen on buying dips (for now)!
DAY TRADE - EXPIRES AT 9PM
We were looking for a dip to buy today but the market appears to have stalled in front of our entry level. Is this good enough reason to get long?
Overall we remain bullish.
Trade Idea
The overnight rally has been sold into and there is scope for further bearish pressure going into this morning.
Bespoke support is located at...
Hello my dear readers, here we would like to take a look at two different scenarios FTSE 100 Index Chart (UKX).
Let's start with the bearish scenario because this is the one that is in play right now... Feel free to hit like to show your support.
Looking at the chart above, we can notice a huge descending channel (bold brown dashed line) and we have two rising...
You can see from our support line ( green line ) that this is a VERY strong level that price has bounced of many times, Price has also bounced off this level this week and we can see a run up to our resistance zone ( green box )
Of course surrounding Brexit and businesses not knowing how the deal or no deal will affect them and trading then you have to be...
FTSE lacking momentum one way or another
Technically we can see that the FTSE 100 remains negatively biased. The (orange) Chikou Span is well below the price line and has yet to define any significant support or resistance levels, which may not help if any further negative Brexit or other political concerns rear their ugly heads. That said a flattening Kijun Sen...
Last post: May 17th. See chart.
Review: Price was trying to make new all-time highs.
Update: The market has reversed since then and has now broken below a major support area.
Conclusion: We need to see if price will remain below the support area then we can look for shorting opportunities.
Any comments or questions, do not hesitate to leave them below....
Some very quick analysis of the FTSE100 - Could we see a double top form at this level? If it does remain bullish we would need to see a retracement soon so this may be a great opportunity for a short term sell on this asset!
Burford Capital is still advancing since bouncing off the support level.
Price may not move fast in a direction but as long as it is consistent then we just need to follow our plan.
The plan in this case is to be patient and still wait for a break of the resistance level before entering a long trade.
As you can see, the all-time high is not too far away so we may...
Whilst its still volatile, the bulls have managed to break above the 7215 resistance level overnight on the TVC:UKX. That should in theory now become support and as long as the bulls can defend this level then a rise towards the next key resistance area at 7325 is possible. The S&P 1.10% has defined the drop to 2610 yesterday and testing 2650 again. Ball is firmly...
Whilst its still volatile, the bulls have managed to break above the 7215 resistance level overnight on the FTSE 100. That should in theory now become support and as long as the bulls can defend this level then a rise towards the next key resistance area at 7325 is possible. The S&P has defined the drop to 2610 yesterday and testing 2650 again. Ball is firmly in...
